German construction slowed in February following January’s success

German construction slowed in February following January’s success

According to findings from the IHS Markit Germany’s purchasing managers’ index (PMI), the nation’s construction activity dropped to 52.7 last month.

This follows the success of an 82-month high reading on the index in January, reaching 59.8.

February’s drop was the lowest in 13 months, yet as it remained above neutral level (50), it continued Germany’s more than three-year continuance of growth.

“January’s spike in construction growth was helped by the unusually mild start to the year, so it was little surprise to see the sector retreat in February as winter weather conditions returned,” commented Phil Smith, IHS Markit Principle Economist.